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WINNIPEG, May 8, 2014 /CNW/ -Athabasca Basin Development, Prince Albert Development Corp, and
Paskwayak Business Development announced today that they have entered
into an agreement to purchase Arctic Beverages, a Pepsi franchise
company servicing Northern Manitoba, portions of Northern Saskatchewan,
Northwestern Ontario and Nunavut.

The three successful Aboriginal-owned companies have formed a strong
governance team with years of management and leadership experience that
will work closely with Arctic's management and employees. Marv Tiller,
a former CEO of Northwest Company, has initiated and completed a large
portfolio of acquisitions and investments throughout his career, and
will bring his expertise as the new Board Chair of Arctic Beverages.
Tiller, who oversaw the purchase of Arctic Beverages in the early 90s,
is very familiar with the company. "The new ownership is a natural fit
and brings a lot to the table for Arctic," says Tiller. "The collective
team's experience and expertise, capital resources, and strong track
records of success will bring renewed strength to the company and will
help grow Arctic Beverages to new levels of success."

Existing management and employees will continue to operate the business
as usual, and in addition to the existing team, a CEO position has been
created to lead the company. Sean Post, who previously led Arctic
Beverages for eight years, will be returning as Arctic's CEO. It was
during Post's time that the company expanded its territory to include
over 20% of Canada, diversified its product line, and received multiple
awards from Pepsi. "I am excited to be returning to Arctic Beverages
and working with the excellent team that is in place," says Post.
"Over the years, Arctic Beverages has enjoyed excellent relationships
with its customers, as we not only provide them with quality in-demand
products, but we also have a unique understanding of the logistics
involved in supplying our products to northern locations. The new
ownership really understands the market we serve, and is well equipped
to work with us to grow this company."

"We have enjoyed a successful relationship with Arctic Beverages for
many years," says Richard Glover, President, PepsiCo Beverages Canada.
"Arctic Beverages has always held a proud position as Canada's only
First Nations owned Pepsi franchise and we're very pleased that they'll
continue to build on this rich legacy. We were impressed by the results
achieved by these three First Nations investment companies, and we
believe that the new ownership and governance of Arctic Beverages will
enable the organization to continue serving as a great PepsiCo partner
for many years to come."

Athabasca Basin Development, an investment company owned by the seven
Athabasca communities in Northern Saskatchewan, will be one of the new
owners of the company. "Our three groups form a very solid partnership
who share a strong commitment to Arctic Beverages' long term success,"
says Geoff Gay, CEO of Athabasca Basin Development. "As owners of
numerous successful companies, all three of our organizations'
shareholders have a true understanding of the challenging logistics in
Northern Canada. I am confident that the experienced management team
and governance structure, along with the collective financial capacity
of all three owners, will restore confidence in Arctic's customers,
suppliers and employees, and we look forward to pursuing opportunities
to grow this company to its full potential."

The acquisition is subject to final approval of the Manitoba Court,
which is expected to be received on May 12, 2014.

About Arctic Beverages
Arctic Beverages is the only First Nations owned Pepsi franchise in
Canada. Since its formation, the company has expanded to become a
distributor of Frito Lay, Canada Bread, Jack Links, Nestle Ice Cream,
Parmalat, and Pepsi. Arctic Beverages has customers throughout
Northern Manitoba, portions of Northern Saskatchewan, Northwestern
Ontario and Nunavut, and has an in-depth knowledge of the northern
Canadian market and the local distribution infrastructure. Arctic
Beverages has been named Pepsi's Canadian Bottler of the Year three
times since 1998 and was the North American Bottler of the Year in
2007.

About Athabasca Basin DevelopmentAthabasca Basin Development is an investment company committed to
building and investing in successful businesses. Owned by the seven
communities in northern Saskatchewan'sAthabasca Basin, the
aboriginal-owned company has grown to include complete or partial
ownership in eleven companies providing a wide range of services. The
company has grown exponentially since its establishment in 2002, with
recent consolidated revenues of over $145M, and a current book value of
over $65M. With a focus on wealth creation and reinvestment, an
experienced management team, no debt, and a strong balance sheet,
Athabasca Basin Development is well positioned to continue to acquire,
build and grow successful businesses.

About Prince Albert First Nation Business Development Limited
Partnership (PADC)
PADC is the business development division of the Prince Albert Grand
Council (PAGC), representing twelve First Nations in northern
Saskatchewan. Established in 1984, PADC today has a book value of over
$20M, carries no debt, and holds a number of business investments in
various industries, including aviation, hospitality (hotels),
manufacturing, camp services, and real estate.

About Paskwayak Business Development (PBDC)
Founded in 1987, PBDC is the commercial holding company owned by the
Opaskwayak Cree Nation (OCN) located in the trading areas of The Pas
and Flin Flon, Manitoba. PBDC plans and implements commercial
developments and business investment initiatives and controls short and
long term growth of business portfolios. Current portfolios include
eleven companies in retail outlets, service outlets, property
management, and construction, with consolidated revenues of nearly
$39M.